|   | (Mark One) |
|--------|------------|

| x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|--------------------------------------------------------------------------------------|

| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|------------------------------------------------------------------------------------------|

| Delaware                                                         | 33-0978453                                             |
|------------------------------------------------------------------|--------------------------------------------------------|
| (State or Other Jurisdiction of Incorporation of the Registrant) | (I.R.S. Employer Identification No. of the Registrant) |

| c/o 3161 Michelson Drive, Irvine, California           | 92612                    |
|--------------------------------------------------------|--------------------------|
| (Address of Principal Executive Offices of Registrant) | (Zip Code of Registrant) |   |

| (714) 594-1579                                            |
|-----------------------------------------------------------|
| (Registrant’s telephone number including area code) |

| Title of each class |   | Name of each exchange on which registered |
|---------------------|--------|-------------------------------------------|
| None                |   | None                                      |

----

| Large Accelerated filer | o | Accelerated filer         | o |
|-------------------------|---|---------------------------|---|
| Non-accelerated filer   | x | Smaller reporting company | o |

----

----

|   | (A)    | Item 1.  Business                   |
|--------|--------|-----------------------------------------------|
|   | (B)    | Item 1A.  Risk Factors              |
|   | (C)    | Item 1B.  Unresolved Staff Comments |
|   | (D)    | Item 2.  Properties                 |
|   | (E)    | Item 3.  Legal Proceedings          |
|   | (F)    | Item 4.  (Removed and Reserved)     |
|   |   |                                          |

|   | (A) | Item 5.  Market for Registrant’s Common Equity, Related Stockholder Matters.                    |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|
|   | (B) | Item 6.  Selected Financial Data.                                                                     |
|   | (C) | Item 7.  Management’s Discussion and Analysis of Financial Condition and Results of Operations. |
|   | (D) | Item 7A.  Quantitative and Qualitative Disclosures About Market Risk.                                 |
|   | (E) | Item 8.  Financial Statements and Supplementary Data.                                                 |
|   | (F) | Item 9.  Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.        |
|   | (G) | Item 9A. Controls and Procedures.                                                                               |

|   | (A) | Item 10.  Directors, Executive Officers and Corporate Governance.                                         |
|--------|-----|---------------------------------------------------------------------------------------------------------------------|
|   | (B) | Item 11.  Executive Compensation.                                                                         |
|   | (C) | Item 12.  Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. |
|   | (D) | Item 13.  Certain Relationships and Related Transactions, and Director Independence.                      |

----

|   | (E) | Item 14.  Principal Accounting Fees and Services. |
|--------|-----|-------------------------------------------------------------|

----

|   | (1) | Not applicable.                                                                               |
|--------|-----|-----------------------------------------------------------------------------------------------|
|   | (2) | Not applicable.                                                                               |
|   | (3) | The exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index. |

----

| Dated:  March 30, 2011 | HYUNDAI ABS FUNDING CORPORATION |                                           |
|----------------------------------|---------------------------------|------------------------------------------------|
|                             |                            |                                           |   |
|                             |                            |                                           |   |
|                             | By:                             | /s/ MIN SOK RANDY PARK                         |   |
|                             |                            | Name: Min Sok Randy Park                       |   |
|                             |                            | Title:  Vice President and Secretary |   |
|                             |                            | (senior officer in charge of                   |   |
|                             |                            | securitization of the depositor)               |   |

----

| 3.1    | Amended and Restated Certificate of Incorporation of Hyundai ABS Funding Corporation (incorporated by reference to Exhibit 3.1 to Amendment No. 1 to the Form S-3 of Hyundai ABS Funding Corporation, filed with the Securities and Exchange Commission on July 30, 2004, File No. 333-117398)                                                                                         |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 3.2    | Bylaws of Hyundai ABS Funding Corporation (incorporated by reference to Exhibit 3.2 to Amendment No. 1 to the Form S-3 of Hyundai ABS Funding Corporation filed with the Securities and Exchange Commission on July 30, 2004, File No. 333-117398)                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.1    | Amended and Restated Trust Agreement, dated as of August 26, 2010, by and between Hyundai ABS Funding Corporation, as depositor, Wilmington Trust Company, as owner trustee, and Hyundai Capital America, as administrator (incorporated by reference to Exhibit 4.1 of Form 8-K, filed with the Securities and Exchange Commission on August 27, 2010, File No. 333-144832-05)        |
|   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.2    | Indenture, dated as of August 26, 2010, by and between the Issuing Entity and the Indenture Trustee (incorporated by reference to Exhibit 4.2 of Form 8-K, filed with the Securities and Exchange Commission on August 27, 2010, File No. 333-144832-05)                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.1   | Receivables Purchase Agreement, dated as of August 26, 2010, by and between Hyundai Capital America, as seller, and Hyundai ABS Funding Corporation, as depositor (incorporated by reference to Exhibit 10.1 of Form 8-K, filed with the Securities and Exchange Commission on August 27, 2010, File No. 333-144832-05)                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.2   | Sale and Servicing Agreement, dated as of August 26, 2010, by and among the Issuing Entity, as issuer, Hyundai ABS Funding Corporation, as depositor, Hyundai Capital America, as seller and servicer, and the Indenture Trustee (incorporated by reference to Exhibit 10.2 of Form 8-K, filed with the Securities and Exchange Commission on August 27, 2010, File No. 333-144832-05) |
|   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.3   | Owner Trust Administration Agreement, dated as of August 26, 2010, by and among the Issuing Entity, as issuer, Hyundai Capital America, as administrator, and the Indenture Trustee (incorporated by reference to Exhibit 10.3 of Form 8-K, filed with the Securities and Exchange Commission on August 27, 2010, File No. 333-144832-05)                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 31.1   | Certification of senior officer in charge of securitization of the depositor pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 33.1   | Management’s Assessment on Compliance with Regulation AB Criteria (Hyundai Capital America)                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 33.2   | Management’s Assertion of Compliance (Wells Fargo Bank, National Association)                                                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                   |
| 34.1   | Attestation Report of KPMG LLP on Management’s Assertion of Compliance with Regulation AB Criteria relating to Hyundai Capital America                                                                                                                                                                                                                                           |

----

|   |                                                                                                                            |
|--------|---------------------------------------------------------------------------------------------------------------------------------|
| 34.2   | Attestation Report of KPMG LLP on Management’s Assertion of Compliance relating to Wells Fargo Bank, National Association |
|   |                                                                                                                            |
| 35.1   | Annual Servicer’s Compliance Certificate                                                                                  |

----